Novavax Shares Surge After Reporting Protection Against Omicron Variant

Dec 23, 2021 By MarketDepth

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Novavax Inc. (NASDAQ: NVAX) shares soared Wednesday following an announcement stating that its Covid-19 vaccine demonstrated immune responses against the omicron variant. Additionally, the company said that a third booster dose also increases individuals immune response to the variant. Shares rose nearly 6% during premarket trading on Thursday, upon the news. 

“We are encouraged that boosted responses against all variants were comparable to those associated with high vaccine efficacy in our Phase 3 clinical trials, suggesting that NVX-CoV2373 can play an important role in the ongoing fight against new variants.”

Gregory M. Glenn, the company’s president of research and development

The biotechnology company’s two-dose, protein-based vaccine was just authorized for use this week by European Union regulators as well as the World Health Organization. Furthermore, it had previously been approved by countries such as Indonesia and the Philippines.

“Given the continued evolution of the coronavirus, the development of an omicron vaccine could be necessary. Novavax has cloned, expressed and characterized the omicron spike protein vaccine and will soon enter the GMP-phase of production. We expect to begin clinical studies in the first quarter of 2022.”

Gregory M. Glenn, the company’s president of research and development

Novavax will start shipping vaccines to the EU’s 27 member states in January upon the established deal to supply a minimum of 200 million doses.